Brent crashes to 17-year low in global markets as analysts see free fall

Silver spot delivery at a huge premium: gold:silver ratio at a high of 121, indicating extreme weakness in silver

With global analysts projecting crude oil to touch a low of $20 in the near future, Crude oil futures on the MCX were trading lower today, shedding 12 per cent in the day session to quote at a four-year low of around Rs 1,844 a barrel. In international market Brent fell to $26.37 per barrel, the lowest since September 2003. Gold, silver and even base metals were also trading lower.

US Treasury secretary Mnuchin's statemment that the current crisis is even worse that the one in 2008, and that without US government support employment could fall by 20 per cent, only